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Recreation Fund Summary <br />109 <br />The following table depicts the 2013 financial activity for the Recreation Fund for the fiscal period <br />110 <br />ending March 31, 2013 (unaudited). <br />111 <br />112 <br />20132013%% <br />BudgetActualActualExpect.Diff. <br />Revenues <br />General property taxes2,075,215$ -$ 0.0%0.0%0.0% <br />Charges for services1,921,877 490,249 25.5%19.3%6.2% <br />Rentals / Lease- 12,862 0.0%0.0%0.0% <br />Donations- 24,079 0.0%0.0%0.0% <br />Interest earnings4,513 - 0.0%0.0%0.0% <br />Miscellaneous6,500 12,659 0.0%0.0%0.0% <br />Total Revenues$ 539,8504,008,105$ 13.5%10.3%0.4% <br />Expenditures <br />Recreation4,008,105 639,514 16.0%18.7%-2.7% <br />Total Expenditures$ 639,5144,008,105$ 16.0%18.7%-2.7% <br />113 <br />114 <br />Comments: <br />115 <br />Recreation Fund revenues and expenditures are near expected levels. <br />116 <br />117 <br />The Recreation Fund is currently in fair financial condition with $922,000 in available cash reserves or <br />118 <br />22% of the annual operating budget. The City’s Cash Reserve Policy establishes a target reserve level <br />119 <br />of 25% for this Fund. <br />120 <br />121 <br />122 <br />Page 6 of 13 <br /> <br />